Musk mulls Tesla and SpaceX merger

Elon Musk announced that his companies Tesla and SpaceX are exploring the possibility of merging, having formed committees to study the idea at the request of shareholders. He expressed his personal belief that combining the two companies would be beneficial, but warned that implementing this would require approval from at least 50% of Tesla shareholders. SpaceX achieved a profit of $4.4 billion in the last quarter, after years of losses, driven by significant growth in internet satellite services and AI-focused data centers, with revenues reaching $14.6 billion, surpassing expectations. Additionally, Starlink service revenues increased by 69% annually to $5.2 billion, and revenue from the AI sector rose to $7.6 billion. The company also posted an operating profit of $431 million, compared to previous losses.

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